Cybersquatting is a bad faith internet domain name registration, whereby the perpetrator registers a domain name that is similar to a pre-existing company name or trade mark with the intent to profit from it. The intent of this activity ranges from ransoming the domain name with a view to selling it to the rightful owner, using the website for phishing scams, selling products pertaining to be another brand’s, or siphoning traffic to this domain away from the rightful domain.